Don't Do Debt.com

Guest article: Finding The Right Answer For Your Debt Problems

by James H. Dimmitt

As credit card bills begin to stuff our mailboxes, many consumers are faced with the hard reality that they went overboard with their holiday shopping. And for those who don't pay the balance due in full, you'll also wind up paying interest charges. For some people this can be the beginning of the end as they can't see a way to manage the burden of their credit card and other debts.

"Wipe the slate clean", "escape the pressure of credit card debt", "call our bankruptcy hotline for an easy way out" the bankruptcy lawyers proclaim in their slick television commercials. Last year 1.6 million people filed for bankruptcy in the U.S. Is bankruptcy the right answer for your debt problems? Make sure you have the facts before making a decision that has lingering effects.

Credit card cos increasing already pricey penalty fees

Credit card companies are substantially increasing penalty fees, in some cases as high as $49. An article released by Cardweb.com details the increases in late payments, balance transfer fees and fees for payment by phone by some credit card companies. Click here for the story.

With these substantial penalty fee increases, it's more important than ever to to avoid these costly and often unnecessary fees.

More updates on the way...

Guest article: Budgeting When Your Paycheck Varies

By Terry Rigg

How can you decide how much you have for bills and expenses when your paycheck varies from one payday to the next? That's a question a lot of people struggle with.

A few of the occupations that I can think of off hand that could fall into this category are waitresses or waiters working for salary and tips, truck drivers that are paid by the mile and never know how many miles they are going to get, the self-employed that their business income varies from season to season, and the list could go on.

Trying to manage your finances with a steady income is hard enough but when you never know what your paycheck will be seems almost impossible, but it's not. It is, however, going to be a little more tricky.

Article: Simple Steps to Happier Holidays

I love and look forward to the holiday season as much as the
next person, but I'll be first to admit that as much as this is
true, I simultaneously feel a great sense of anxiety when the
festive season approaches. I look forward to quality time with
family and friends but money is stressful every other month of
the year and it's intensified during the holidays.

Christmas parties, gifts and great times lend well to holiday
excitement and sadly, great expense. I want so badly to be wholly
excited, yet I find myself dreading the obsessive calculations
from the frenzied activity in my checkbook, more activity than
my checkbook sees all year.

Fortunately for those of us who experience a nagging anxiety
tugging at our heart and purse strings, there are ways to relieve
these feelings to make the holidays feel almost as joyous as you
remember before you had the burden of paying for them.

Article: "Quicksand- Debt’s impact on budgeting"

(Highlights from an article slated to appear in an upcoming edition of Budgetstretcher Newsletter)

Ever find yourself quietly pondering where it is exactly
that your money goes? Or, do you find yourself constantly struggling
to save money and get ahead in spite of perfecting your budget
and cutting back on spending? If you’re struggling with money
and credit cards are a part of your spending strategy, it’s time
to look at how your debt-load could be crippling your efforts to
budget and save.

Think of these simple costs to use a credit card:

Balance	Interest	Cost
$2000	10%	$200/year
$5000	10%	$500/year
$10,000	10%	$1,000/year
$20,000	10%	$2,000/year

Other highlights:

Being in debt can cost thousands of dollars a year.
With the cost of being in debt so high, it’s important to understand how credit cards work.
Many people do not comprehend the impact of interest until they’re swimming in it.
When it comes to your money, don’t overlook how your credit cards could be hindering your efforts to budget and save.